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Accenture Forecast Sends Stock Tumbling a Record 20%

Explore episode Jun 18, 2026
Business
The Fax Machine Fed vs. Today

Accenture Forecast Sends Stock Tumbling a Record 20% · Jun 18, 2026 Business

In 1994, traders received the Fed's balance sheet via fax and had to guess policy direction from data. Today's wall of Fed speak makes that almost mechanical — but Ira Jersey says markets have always tried to anticipate the Fed regardless of how much the Fed communicates.

Where this was said

Kevin Warsh's Hawkish FOMC Debut

At 19:35 · chapter starts 17:45

Ira Jersey assesses that the FOMC has turned hawkish, with new Fed Chair Kevin Warsh refusing to soften rate-hike signals at his debut press conference. Markets are now pricing contradictory hike-then-cut expectations.

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